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20121129
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television. >> we are talking about the fiscal cliff. john harwood just got back from senate republican mitch mcconnell's home state of kentucky. here he is. >> in the senate the challenge is bring together red states and blue states. mitch mcconnell's kentucky is horse country. states represented by top congressional leaders, the reddest of all. among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky and a state where the tea party movement is alive and well. president obama may have won this election but would years ago, leaders of the tea party movement elected ron paul's son, rand, as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014 and this time take out mitch mcconnell if he agrees to raise taxes. >> we should not raise taxes in this country. we do not have a receive knew problem. i would like senator mcconnell to recognize that th
would happen if we go over the fiscal cliff. the president is counting on that. >> which republicans? boehner doesn't get -- some of these guys go back to the auto parts shop where they came from before they were a tea party republican, wherever they -- you can't -- it's not a monday know lit. you can't get mad at the house. >> people pointed out some of the republicans were there and congress don't care. >> no, why would they? >> i don't necessarily think president obama cares that much either. his leg legacy is about obamacare, redistribution. and you can't control the economy. you can divide the pie better, but it will have these cycles. bush messed things up. i did the best i could, but he'll redistribute and that will happen, we'll spread the wealth around. and i don't think he cares that much about it. >> you don't think he cares about -- >> his chief of staff during the cry says said you'll be -- this is job one, the crisis. and he go that's not enough. he wants to be transformative. i don't know. we'll see. i asked the first time around why isn't he more concerned with job gr
that proposal. i worry that he's already decided to take us off this fiscal cliff to blame republicans. it might be a short term political victory but it's terrible for the economy. i think that's the wrong way to go. >> senator casey, you heard what congressman brady just said, bills neither the senate or the house is going to pass each other's bill. it doesn't make sense to lay out the ideas without getting closer together. what do you think is the realistic way to find agreement and can you two as the chair and vice chair of the jec can you two find consensus? >> kevin is a good friend and great vice care of our xhe, we work well together and that mutual respects is part of this. i think there's too much cover annual of the personalities of the president and the speaker and all that. that doesn't matter. the key thing is let's focus on priorities like growing the economy, focus on getting an agreement. we may not get all of this done by the end of the year but i think we can move forward. >> what do the nuts and bolts look like, we know what the proposals are in terms of 1.6 in tax increases
now say let's go over the fiscal cliff. both sides have a real vested interest in that not happening. both sides. the republicans in the final analysis give higher taxes. you have the possibility that they're going to be able to be painted as having been the ones to really trigger it. and on the democratic side and the administration side, you have -- without this patch, and the patch is something that's been passed every year since 2001 to inflation adjust who's caught by this alternative minimum tax. if you don't put the patch in place -- and by the way, the patch costs almost 200 billion dollars for the next two years. if you put it in place, that's what the cost of it is. if you don't put it in place, amt catches a lot of middle income. >> at what level? >> it goes all the way down to -- >> i think 70 or $80,000. >> that's where the patch takes you to, well below that. >> does it really? >> that's going to affect a lot of the democratic constituents. a lot in the blue states where you have high state and local income tax deduction. so you lose that and the alternative minimum inc
are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends tax cuts for the middle class. we're going to start long-term deficits down, tough savings is part of that and investment, things that matter to the american economy. like frut, things to help americans to get back to work. we have a good chance to it now and it's very important we're going to do that. >> secretary geithner said that if republican leaders have alternatives on reducing the deficit, they need the offer their propose yaels to the government. >>> manufacturing activity in china has hit a new high. hsbc's manufacturing purchasing index came in at 55 in november. it separates expansion from contraction. and the latest twilight film was number one at the weekend box office for the thrt straid straight weekend. it
which definitely affected us. >> will the fiscal cliff impact the mustang ranch? >> well, if folks rub out of money and jobs, i suppose it could. >> gillman is a republican who is looking to nevada's powerful democrat harry reid to keep that from happening. >> do you like harry read? >> harry reid and i have been friends if 30r years and harry and i both share a vision and a love for the state of nevada. >> susan austin says even here the cliff will hurt. >> anything that happens in washington affects everybody in the united states. it's going trickle down to me sooner or later, so it's definitely going to hurt me in the end. >> we're going to have her entire interview later. funnybusiness.cnbc.com. she didn't say what she wants harry reid to do over it. she says you don't talk politics or religion at a brothel. he wants to make sure it doesn't kill nevada's fledgling recovery. later gillman takes it to a 30,000-acre industrial park he's built for facilities for walmart and toys "r" us. he says when it comes to the fallout for fiscal cliffing he says, quote, this is where the buck stop
Search Results 0 to 5 of about 6